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Old 09-13-2009, 08:06 PM
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Leaf WUC Coupon your way out of Debt!

I am sure you are all thinking this girl is crazy, but believe it or not this really works!

One of the many fabulous things about this hobby is it really does not cost a lot to do (unlike husband's woodworking hobby!). You get a bunch of coupons and you stockpile. And then you stockpile some more. And then..you have no place to live because you keep finding things for free everywhere you go!

I know you know what I am talking about! Got toothpaste under your bed? Shampoo in your closet? Maxi-pads for your grand children that aren't even born yet?

Face it..you have to donate that stuff, give it away or sell it!

Well, you can only give so much away before your friends think you have a serious problem. And sure you can donate it the many food banks, but even if you got these items for free, they did cost you - Gas, time, cutting coupons etc..

Why not donate some, give away some and sell some??

Cooler weather is coming - This would be a great time to prepare for next years sale! You would have 8 months or so to accumulate so much stuff you will have no choice!

I guarantee once you start doing it, you will be hooked!

No here is the best part! Take your earnings from the sale and start paying off those Visa and Master Cards..And OMG how would it feel not to have a car payment?

Take it from someone who has got this down to a science! June of 2008, I had $25,000 in loans...After October 2009 I will be at 0!!

All because I had garage sales selling my stockpile items. There are many members on this site already doing this, including MrCoupon!

Go to the stockpile forum and see all the success stories.

Life Takes Visa...

I say

VISA TAKES LIFE!

It doesn't matter if you make $100 or $1000 just do it!

My Coupons are my American Express Card - Don't leave home without them!

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Old 09-13-2009, 10:18 PM
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Moon you are so great, I did my first sale August 4th and it paid for a weekend away. I have another one this Saturday and all of it is going to my Mastercard which has 900 dollars on it. That is the only debt I have, and my goal is to pay it off with my Sept and Oct sales! I hate having debt. I am so thankful to have found this site and for the wonderful teachers. Without you guys, I would have never started doing this.

Speaking of, i need to prepare to go to Foodlion tomrrow and get some frees for my sale!
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Old 09-13-2009, 10:29 PM
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Quote:
Originally Posted by Sophia View Post
I really like the idea of couponing my way out of debt. I've been doing this for almost 5 months now and I've got more food/supplies than I've had in my entire married life (13 years).

I'd love to hear/read everyones success and/or stories and suggestions. Has anyone been successful without doing the 'sell' aspect of coupons and stockpiles?

Unfortunatley, for me and my area...it wouldn't be worth the time or effort to have a stockpile sale in my neighborhood. Between jerky neighbors and strict rules (permits, taxes, etc).

Also, for those that do the sales...how do you go forward with reporting the income at the end of the year? Do you have to?
My tax person says that IRS does not expect you to claim it..but my secondary question was what if you make $10,000..I would think the IRS would want a piece of that pie.

He said don't worry about it. So until it happens i wont worry. I was taxed when I bought the item.

As far as worth the time..find another place to do it..parents friends etc..

My Coupons are my American Express Card - Don't leave home without them!

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Old 09-13-2009, 10:42 PM
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Quote:
Originally Posted by moonflower View Post
My tax person says that IRS does not expect you to claim it..but my secondary question was what if you make $10,000..I would think the IRS would want a piece of that pie.

He said don't worry about it. So until it happens i wont worry. I was taxed when I bought the item.

As far as worth the time..find another place to do it..parents friends etc..
The tax man scares me--a lot! I just wonder if that can be right. If we are purchasing with the intent to sell for a profit it would seem that it has to be reported as income. I know as far as eBay goes, you have to report the income (retired power seller ).

I might have to look into this. I've got plenty to sell that's for sure....it's filling up pretty quick in the basement and one little sale to test the water couldn't hurt




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A generous man will prosper; he who refreshes others will himself be refreshed. -Proverbs 11:24-25

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Old 09-13-2009, 10:45 PM
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Old 09-13-2009, 11:39 PM
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I am still trying to figure out how to do this the right way.

Erica: Wife to my traveling welder Tom and SAHM to my wonderful 3: Taylor-9, Thomas-7, and Brendan-4
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Old 09-14-2009, 08:35 AM
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What a FANTASTIC ARTICLE!!!

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Old 09-14-2009, 08:46 AM
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Great article Moon. As for the tax issue, if you are just having a garage sale, I wouldn't worry about it. At some point, (a large dollar amount whatever that is) your efforts will transition from a garage sale (getting rid of some extra items) to a business. Where that line is drawn, I don't know. If you are worried about it, then you should get advice from a tax accountant and go from there.
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Old 09-14-2009, 09:02 AM
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Thank You!!!
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Old 09-14-2009, 09:18 AM
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Soooooo true!!!


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Old 09-14-2009, 09:29 AM
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I just started doing this mega coupon thing this year. What fun! At first it was just to have enough for me and dh. Now I am working on stockpile for kids- a Christmas present--- we give them too much as it is But now after reading your post I might think about a yard sale next year. I did laugh so hard about the panty liners for grandchildren not born yet. What a hoot. Glad I didn't have any liquid in my mouth at the time. It would have come out my nose. I doubt I would ever go and buy as much as you but I can do it on a smaller scale. Thanks! I will let you know when we do the yard sale. Our street does one in May- that should give me plenty of time.
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